Salzer Electronics Ltd, a new entrant in the smart meter manufacturing space, has received its first commercial order.
In a release, Salzer said that during the third quarter (Q3: October to December) of FY25, it delivered its first commercial order of 25,000 smart meters, valued at around Rs.5 crore. The company was optimistic of receiving its next order from the same client, the release noted.
According to Rajesh Doraiswamy, Joint Managing Director, Salzer Electronics, “Coming to our new product of smart meters, I am very happy to share that our first order of 25,000 smart meters has been dispatched, marking a significant milestone in our commitment to advancing smart grid technology. This achievement reflects our strong execution capabilities and reinforces customer confidence in our solutions. With this successful delivery, we are optimistic about securing the next order from the same customer, further strengthening our partnership and driving sustained growth in the smart metering segment.”
Salzer that has traditionally supplied critical smart meter components like current transformers and relays to other manufacturers, recently diversified into smart meter manufacturing, marketed under the “Salzer” brand. Salzer manufactures smart meters at its Annur plant in Coimbatore district, Tamil Nadu.
In an earlier exclusive interaction with T&D India, Rajesh Doraiswamy had indicated that Salzer would start manufacturing smart meters with an initial capacity of 40 lakh meters per year, and that it expected to receive its first commercial order by Q3FY25. (Read full interview)
Performance in Q3FY25
Salzer Electronics recorded a 26.3 per cent year-on-year growth in revenues that reached Rs.341.46 crore in Q3FY25. This growth was mainly driven by higher demand for industrial switchgear as well as Building Product division businesses mainly due to high demand products like three phase transformers, wire harness, relays and new product like contactors etc, the company release said.
The Industrial Switchgear division contributed 60.8 per cent to the company’s Q3FY25 revenues, followed by Wires & Cables with 32.4 per cent. The Building Electrical Products division had a share of 6.8 per cent in the company’s total revenues in Q3FY25.
Also read: Salzer Electronics secures patent for automatic source changeover
